A couple of weeks ago, we reported about how, as executive hiring in general increases, executive temping is becoming more popular, allowing companies to audition potential hires or to provide temporary help while they find the right people to fill high-level positions. But according to The Boston Globe, hiring part-time executives is more of a long-term fix for some companies.
Many small companies can’t afford the salary of a full-time executive, so turning to part-time help allows them to gain the experienced talent with less expense. Most bring on the part-timers for a few days a month.
And at a time when 824,000 executives are on the unemployment lines, there is no shortage of candidates willing to take these positions. It is not uncommon for executives to take several part-time positions to make the amount they would with a full-time job. Many like the flexibility and variety that come with this type of situation, not to mention the financial security. After all, if they get laid off from one job, they won’t lose their whole salary.
As these types of arrangements become more popular, we expect to see continued growth in executive temping, where companies bring executives on as contractors employed through a contracting back-office, such as FoxHire. The contracting back-office handles all of he employment responsibilities, such as employment paperwork, Unemployment, Workers’ Compensation, and more, so the client can simply enjoy the expertise of a seasoned executive.
